Shares of Qualcomm (QCOM) are down 90 cents, or 1.7%, at $51.15, after the company disclosed late Monday that it was denied its request for a stay of an order by a Korean regulator, prompting Qualcomm to file an appeal.

In response, Rod Hall of J.P. Morgan, who has an Overweight rating on Qualcomm stock, thinks there’s not a lot to worry about here, as there’s little at stake globally in the Korea matter.

The Korean Fair Trade Commission of South Korea had ordered Qualcomm to “engage in good-faith negotiations,” Qualcomm notes in its statement, but does not affect Qualcomm’s existing licenses, among other stipulations of the “remedial” order. Qualcomm had asked for a stay of that order, but the High Court of Seoul found the order would not cause “irreparable harm” to Qualcomm, and therefore rejected Qualcomm’s request.

Qualcomm said it will “file an immediate appeal of the stay decision to the Korea Supreme Court.

Writes hall, "While this is interesting, we do not believe it affects QCOM treatment in other countries."

He adds, "We also point out that the smartphone volumes in Korea are tiny relative to global volume and have little impact on Qualcomm’s licensing revenue stream. Even in the case of Samsung, we understand the impact here to be only Samsung phones sold in S. Korea."

Facebook shares drop almost 7% on Friday's disclosure of mishandling of user data by the consulting firm Cambridge Analytica, KLA-Tencor buys fellow chip equipment maker Orbotech, Deutsche Bank analysts are bullish on fiber optics name II-VI but negative on Arista Networks, GrubHub stock is getting pricey according to Stifel analyst John Egbert, Fitbit finds a new believer in Craig-Hallum's Alex Fuhrman, ex-chairman Paul Jacobs of Qualcomm is hoping analysts will vote in sympathy with him at the company's shareholder meeting on Friday, Dell topped server sales in Q4 and bumped aside Hewlett Packard Enterprise, Google's Diane Greene is mulling a big acquisition to boost the company's cloud services, Apple is moving forward with its own display technology called "micro LED," and Oracle is set to report results after the closing bell.

"While it's background noise for investors in the near-term, with the News Feed overhaul and other actions that Facebook has implemented over the past few months, its clear with more 'heat in
the kitchen from the Beltway' that further modest changes to their business model around advertising and news feeds/content could be in store over the next 12 to 18 months," analyst Daniel Ives wrote.

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